LVMH (Euronext Paris: MC FP) lead gains on France’s CAC 40 Index, with Bryan Garnier noting that China’s “common prosperity” goal won’t hurt all luxury companies the same way while helping expand the country’s middle class -- a positive overall for the sector. Middle-class expansion is crucial for China’s economic development, writes the Bryan Garnier analyst; while a potential “psychological effect” on consumers can’t be ruled out in the near-term, some players won’t be impacted as much as others. So-called “hard luxury” players may be more affected than “soft luxury” ones given their more expensive product category. LVMH stocks are up 27% for 2021.